Dear Editor,
In your June 30th edition, you published a letter from the Oil & Gas Network on Guyana’s oil profits. The writer compared the 2023 accounting profit numbers with the amounts in the NRF and query how this can be a 50/50 profit sharing agreement. Cost recovery and Production Sharing provisions are set out in Article 11 of the PSA and is very different from accounting profits. Hence the obvious variance.
Sincerely,
Dhanraj Deonarine
Scarborough, Ontario
